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Good morning and welcome to the ABC's business and finance blog! I'll be your guide for the next few hours. The local share market is on track to open slightly lower, just a day after it hit a fresh record high. ASX futures are pointing to a 0.5% drop when the trading day begins in a couple of hours. The Australian dollar, meanwhile, is down 0.4% to 64.9 US cents. Dow Jones hits record high, Netflix earnings disappoint It follows a mixed session on Wall Street, which saw the S&P 500 finish practically flat and the Nasdaq Composite down 0.2% as major tech-related stocks like Nvidia, Tesla and Google's parent company Alphabet slipped. However, the Dow Jones rose 0.5% to close at a fresh record, just below 47,000 points, after major companies on the index including Coca-Cola, General Motors and 3M reported better-than-expected quarterly earnings. After the closing bell Netflix reported a net profit of $US2.55 billion in the September quarter, up from $US2.36b a year ago. However, its share price dropped 7% in after-hours trade as its earnings didn't meet investors' high expectations. The company blamed an ongoing dispute with Brazilian tax authorities its the weaker-than-estimated earnings. In the meantime, go grab a coffee (or tea ... or whatever your drink of choice is). I'll have more intel for you in a moment.
